Asia-Pacific is the fastest growing region in the microelectromechanical systems market, and is expected to continue this trend over the 2016-2024, owing to increase in the awareness and consumption, especially in China and India. Asia-Pacific holds 52.9% of the market, followed by North America which had 22.7% in 2016.

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Microelectromechanical Systems (MEMS) Market Report, published by Variant Market Research, forecast that the global market was valued at $15 billion in 2016 and expected to reach $35 billion by 2024; growing at a CAGR of 11.4% from 2016 to 2024. In geographical segments, Asia Pacific and RoW anticipated to grow at a fastest CAGR of 12.4% and 12.1%, respectively, over the forecast period 2016-2024.

Global Microelectromechanical Systems (MEMS) Marketis majorly driven by advanced technology, which has resulted in the decrease in size of devices, making cost effective and efficient and consumer’s preferences for improved vehicle features for safety and comfort. Though, lack of technical consciousness may hamper the market growth.

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Furthermore, stringent rules and regulations by government for vehicles fuel efficiency and emission standards would provide growth opportunities for the market during the forecast period 2016 - 2024.

North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. Asia-Pacific is the highest growing region in the microelectromechanical systems market, and is projected to continue this trend over the 2016-2024, owing to rise in the awareness and utilization, especially in China and India.

Asia-Pacific accounted for the highest market share of 52.9% of the market, followed by North America which had 22.7% in 2016.

Market players have used different strategies to raise their market share and global presence. In June 2016, Seiko Epson Corporation acquired Fratelli Robustelli S.r.l, a leader in the textile printing industry in June 2016.

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